Economy project
1.
Instructions
Output
Total Variable Cost
0
$ 0
1
$ 50
2
$ 90
3
$120
4
$160
5
$220
6
$300
7
$400
8
$520
9
$670
10
$900
Given the above variable cost data and
assuming fixed costs equal the value of the last four digits of your
MDC student ID, create a file using Excel
that lists Output, Fixed Cost, Variable Cost, Total Cost,
Average Fixed Cost, Average Variable Cost, Average Total Cost, and
Marginal Cost. The Excel table should be constructed using
formulas wherever calculations are required. An example of the
table for guidance is presented on page 254 of your textbook.
The formulas required are summarized on page 262.
Using Excel, plot FC, VC, and TC in
Graph A and AFC, AVC, ATC, and MC in Graph B.
For grading purposes:
A=5; B=4; C=3; D=2; and F=0.
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